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CNN buys Casey Neistat’s Beme app, brings the YouTuber in-house
- pawadu 10y agoNever heard of this app, yet... > Something else Neistat authentically shared onstage was Beme’s raise and burn rate — $6.6 million in funding, with a burn rate of $180,000 per month guess I am in the wrong business...
- roflchoppa 10y agoYeah I was wondering what he was going to do with the company, it seems to be popular between the current middle school -> high school age group. I'm not sure how CNN is going to be able to utilize it.
- freddyc 10y agoI guess CNN is backing on his current fanbase (mainly teens) staying loyal to him as they graduate from HS and move to college. CNN knows that demographic likely won't have a cable subscription, so this feels like an alternative platform to capture that audience or at least try to. Time will tell if it's a successful strategy. We'll likely never find out the terms, but I doubt anyone made money out of this deal with the exception possibly of Casey via his new contract with CNN. With over $6m raised, best-case scenario is the investors were made good and the employees walked away with greater long-term certainty and a stable paycheck.
- TaylorGood 10y agoThey are shutting it down in coming weeks; team will focus on CNN endeavors.
- rubicon33 10y agoNo surprise really. Beme failed to be a revenue generating business; maybe it was never intended to be. It barely even succeeded at being what it was - a video sharing social network. The only out for Beme was to sell. What continues to surprise me, is how willing some companies are to buy garbage apps.